Intech Investment Management LLC Has $10.60 Million Stock Holdings in Mueller Industries, Inc. $MLI

Intech Investment Management LLC boosted its stake in Mueller Industries, Inc. (NYSE:MLI) by 19.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,867 shares of the industrial products company’s stock after buying an additional 17,276 shares during the quarter. Intech Investment Management LLC owned approximately 0.09% of Mueller Industries worth $10,603,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MLI. JFS Wealth Advisors LLC increased its stake in shares of Mueller Industries by 121.1% in the third quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 138 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in Mueller Industries by 228.7% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 215 shares in the last quarter. Root Financial Partners LLC acquired a new position in Mueller Industries in the 3rd quarter worth about $38,000. Employees Retirement System of Texas purchased a new stake in shares of Mueller Industries during the 2nd quarter worth about $34,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Mueller Industries during the 3rd quarter valued at about $46,000. 94.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MLI has been the topic of a number of research reports. Wall Street Zen downgraded Mueller Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Mueller Industries in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Mueller Industries Stock Performance

Shares of MLI stock opened at $120.41 on Friday. The stock’s 50 day simple moving average is $122.98 and its 200 day simple moving average is $109.58. Mueller Industries, Inc. has a twelve month low of $66.84 and a twelve month high of $139.29. The company has a market capitalization of $13.37 billion, a price-to-earnings ratio of 17.53 and a beta of 1.03.

Mueller Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.35 dividend. The ex-dividend date is Friday, March 13th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.25. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. Mueller Industries’s dividend payout ratio is presently 14.56%.

Insider Buying and Selling at Mueller Industries

In related news, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $116.71, for a total value of $116,710.00. Following the transaction, the director directly owned 90,664 shares in the company, valued at approximately $10,581,395.44. This trade represents a 1.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Scott Jay Goldman sold 4,430 shares of the business’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $118.97, for a total transaction of $527,037.10. Following the transaction, the director directly owned 41,645 shares of the company’s stock, valued at approximately $4,954,505.65. This represents a 9.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.70% of the stock is currently owned by corporate insiders.

Mueller Industries Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.